Morning Highlights

Singapore Market opened mixed, with STI down slightly by 13.13 points to 2984.52, following a soft close on Wall Street overnight on economic worries.

  • Osim broke 1.05

Corporate Announcements:

  1. Yangzijiang has received approval from the Taiwan Financial Supervisory Commission, Executive Yuan, the Securities and Futures Bureau for the offering and listing of TDR on the TSE.
  2. Keppel Corp has delivered its third multi-purpose platform supply & support vessel to Greatship Global Offshore Services Pte. Ltd with a perfect safety record, meriting a bonus of US$10,000.
  3. Noble extended the close of its takeover offer for Gloucester Coal Ltd. to 3rd September 2010.

News Updates:

  1. Boeing affirms 2010 outlook as quarterly net, revenue drop on lower commercial deliveries.
  2. U.S. orders for durable goods unexpectedly weaken, down 1% for June.
  3. Crude futures sink near $76, off nearly 2%, as U.S. reports big inventories increase.
  4. U.S. stocks start out on a flattish note; latest earnings weighed against data.
  5. U.S. economy expanding at slower rate, job market improving slightly: Beige Book.
  6. Symantec shares down 8% late after security- software marker’s forecast disappoints.

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 HKLD Hong Kong Land 5.45 5.26 5.64
2 OLAM Olam International 2.80 2.69 2.91
3 RAFG Raffles Medical Group Ltd 1.98 1.86 2.10
4 TAT Tat Hong Holdings Ltd 1.02 0.945 1.10
5 ATVE Asiatravel.com Holdings Ltd 0.515 0.465 0.565
6 PEC 0.89 0.835 0.945  

Stock Prices last updated at 17:05 (Singapore Time)

In Summary,

Index closed up 12.27 points to 2997.65, with 1.4023 billion traded.  Gainers led losers 253 to 187.

U.S. market has experienced its first dip after rallying for the past four days. We are expecting our local market to be choppy in the coming days as index is approaching to important resistance at 3000. We advise to trade with small risk or to stay sideline for the time being until a clean breakthrough of 3000 is seen.

Last but not least, watch out for the high at 3037 which was created on 15th April 2010.

Our Market Sentiment remains Bullish.